Dominic Rossi on market volatility - "time to hold your nerve"
Global CIO for Equities Dominic Rossi spoke to Associate Investment Director Maike Currie about the global equity rout.
Global equities saw their sharpest falls since the financial crisis today after Chinese markets were hit by the biggest one-day fall since 2007. Volatility has increased since China devalued its currency earlier this month.
Dominic said: "I think what we need to recognise is that, unlike some of the previous crises we have seen in recent years, this one is starting in the emerging world. Country after country has been devaluing against the US dollar and those devaluations are in response to a weaker economic growth within the emerging world. Now, equity markets are effectively catching up with that message of slower economy growth across the emerging markets.
"I suspect we are already halfway through this current selloff. It is definitely not a good moment to sell and I suspect, looking at where the London Stock Market is this morning and where the US market is likely to open, that by year end we will probably be at higher levels than we are today. I think this is a time to hold your nerve."
RecordedAug 24 20156 mins
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